I am between some schools. One is a semi target for investment banking and the other two are cheaper but are non targets. Does undergrad really matter that much if you have to (and I plan to) go to a top grad school for an MBA so you can get into a top job in private equity, etc?
You should just google and find out – say “incoming investment banking analyst goldman sachs linkedin” and go through the list slowly. There may be better ways to query linkedin.
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Might help to name the schools.
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In the end, yes, they mainly come from certain schools - but not tall - and I Banks and other banking firms are moving from NY to places like Nashville, Atlanta, Austin, and other places.
In the end, you have to be able to afford where you go.
For MBA, you’ll need to work for a few years. If it can be at a finance / banking related job, then great. But if not, it’s still ok.
Would it help you to be a Yale or Harvard grad to get into Harvard or Penn for an MBA.
Sure - but that’s just based on the quality of person who attended applying.
If you go to U of Idaho or Hofstra or SE Missouri State, kill it, get a great GMAT, and have solid work experience, you’ll have a shot as well.
Best of luck.
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I don’t think the requirements for being admitted to top MBA program are going to vary much depending on whether you go to Idaho/Hofstra/Missouri or Harvard/Yale for undergrad. In both cases, you’ll likely need a high GMAT and outstanding work experience.
I don’t doubt that Ivy undergrad colleges are well represented among Harvard/Penn MBA. However, one also needs to note that students who attend Ivy undergrad colleges are far more likely to be well qualified including having a great GMAT than students who apply from less selective colleges. There is also no doubt a higher rare of applications among well qualified students at Ivy-type colleges. Students who apply to Ivies for undergrad are more likely to apply to Ivies for grad, and students who are targeting Harvard/Penn MBA as a long term plan are morel likely to apply to Ivies for undergrad. This correlation makes it difficult to untangle whether undergrad college name offers a significant benefit.
What is more clear is that Harvard/Penn and similar admit kids who attend a wide variety of colleges. For example, a list of undergrad institutions among Harvard’s MBA class is at Undergraduate Institutions - MBA - Harvard Business School . The class includes 264 different undergrad colleges including many less selective colleges, some of which have near open admissions.
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Yes - that’s what I said - but that’s just based on the quality of person who attended applying.
Meaning, kids that got into Harvard, Yale…are likely academically superior to begin with - not to mention will likely have access to better jobs.
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If the ultimate goal is IB, consulting, or PE, the other thing to consider is likely job placement after college. In terms of getting into top MBA programs, work experience is crucial. While you don’t necessarily have to come from a top consulting, IB, etc… firm to get into those schools, if your work experience is say in sales with a local or even regional company, you will be at a disadvantage. Here is a link to the HBS website breaking down the prior industries of its accepted students Class Profile - MBA - Harvard Business School The 3 largest groups are Consulting, PE and Financial Services at 17%, 15% and 12%. Tech is close behind at 11%. While Manufacturing/Industrial and Energy is also at 11%, it is a conglomeration of many industries. It would be even more interesting to see the concentration of former employers. I suspect certain firms will be overrepresented relative to their employee size. The question then becomes which undergrad best positions me to get such a job.
The other thing to consider is that for IB, the old track of a 2 year analyst program then BSchool has been changing over the years. A higher percentage of analysts are being directly promoted to associate/long term track. I would not be surprised that Financial Services has been an eroding percentage of the mix over the last 20 years because of this.
IMO, if you your goal is IB/Consulting/PE, you have a higher probability of achieving that by going to a “feeder” school. You need to do well, but your chances of getting a job in those areas is much better. Then it is a function of whether or not an MBA is worthwhile. The other track of going to non target schools is that you have to do extremely well undergrad, still get a job that will enhance your top MBA prospects and score really high on your GMAT or GRE. To me there are greater uncertainties in the latter path because there are a greater number of hoops to jump through.
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Just echoing what @BKSquared said – an MBA may very well be unnecessary. (In that case, it argues for the school most likely ro get you a job in finance).
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Investment banking is one out of literally thousands of occupations you can do with an MBA. Playing the odds, chances are, you’ll hate it and be miserable. What’s worse is being stuck with a mountain of debt in a career you hate. It’s bad enough having high debt in a profession you enjoy.
My advice, don’t get hung up on one profession coming into college. It’s premature for that. The average college student changes their major 2-3 times. And that’s a good thing. you find hidden passions as you mature. You might find out you, like computers or teaching.
Prestige isn’t a bad thing, and if IB is right for you, GREAT…but it’s not worth $100,000 in debt co-signed by your parents. That’s financial suicide. There is an abundance of career paths you can do with an MBA without going to a “feeder” school for investment banking.
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Assuming that you are 100% committed to graduate school then I can offer the following: I attended a state school that cost very little and was accepted to several excellent MBA schools, albeit many years ago. I am not aware of anyone in my class going to any of the IVY schools and some were coming to MBA school after having worked for a while first. My friends who went into finance have all done extremely well so FWIW I would not be fixated on an expensive undergrad degree, especially if it means going into significant debt. Getting great grades, doing very well on the GMAT or GRE is more important.
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If you go to a prestigious undergrad, you may get a great IBanking job straight out of undergrad, and may not need an MBA. The opportunity cost of doing an MBA is really 500k or more, depending on how you count. Also, if going to a state school may mean that classes are crowded, and you may not finish in 4 years cleanly, every six months delay could be worth 60k-100k in lost income, especially if you were going to get an IBanking job out of the “prestigious” undergrad. So the cost differences are not necessarily that large.
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You have to be very careful interpreting this data. It shows that it isn’t impossible to get into HBS from places like U of Cincinnati. However, it doesn’t show that undergraduate school has no impact. It would be helpful if they showed the number enrolled from each school (YLS stopped showing the number). You would likely see that schools like H would have consistent high numbers of students each year and schools like UCincy would sporadically appear. There are also many multiples of peer schools to UCincy than H. So, they may be taking a lot (50+?) from H every year and 5 from a group of 100 schools.
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The part of my post that was not quoted said the equivalent and also explained why Ivies are expected to be overrepresented among the undergradauate schools attended by members of the entering HBS class. Specifically the portion immediately before the quoted text stated:
This correlation makes it difficult to untangle whether undergrad college name offers a significant benefit. What is more clear is that Harvard/Penn and similar admit kids who attend a wide variety of colleges.
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This is why it would be nice if OP shared school names. An undergrad from a top business school might be worth paying more because it would theoretically lead to a higher starting salary and not require an MBA.
Top undergrad business schools have improved to the point where an MBA isn’t as necessary as before.
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You don’t need to go to a business school. You can go to a top school (T5) and do pretty much anything in Econ, math, physics, bio, philosophy, engg, comparative literature etc, have a close to 4.0 gpa, and land an IBanking job. Pretty comfortably. The required finance is often taught in 3 months.
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Agree. B school isn’t necessary for top IB jobs. You can major in other things but it still has to be at a T20 target school.
My friend’s son has an internship at one of the top hedge funds. Physics and quantitative finance double major. An MBA would be low on my priority list for now.
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Yes, no question.
I have exhaustively read both sides of the Undergraduate Prestige argument. Especially for the MBA path you want to take, if you have the money, go for the semi target school.
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I’ve posted my story before*. On an admissions tour of HBS in the late 80’s, the rep said that applying to HBS is like applying to a bank for a loan; the more you can prove you don’t it, the more likely you are to get it. She said that HBS doesn’t create captains of industry but, instead, identifies the likelies and brings them together.
So, I agree with @Data10’s conclusion:
It’s the student, not the school.
*(In my case, I graduated from the University of Michigan with a degree in English, worked for almost ten years, and applied to B-school at 30.)
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Thank you very much for the answer. I am between IU Kelley, UGA Terry, and TCU Neeley. Seems as if IU Kelley is the best option by what you said.